Insulet (NASDAQ:PODD) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of Insulet (NASDAQ:PODD) from a buy rating to a hold rating in a research note issued to investors on Tuesday.

Several other research firms also recently weighed in on PODD. Stifel Nicolaus raised their target price on Insulet from $245.00 to $293.00 and gave the company a “hold” rating in a research report on Friday, February 21st. TD Cowen lifted their price objective on Insulet from $264.00 to $324.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Raymond James reiterated an “outperform” rating and set a $328.00 price objective (up previously from $294.00) on shares of Insulet in a research report on Friday, February 21st. JPMorgan Chase & Co. lifted their price objective on Insulet from $280.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, December 12th. Finally, Barclays lifted their price objective on Insulet from $220.00 to $234.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $292.06.

Insulet Stock Performance

Shares of PODD stock opened at $259.67 on Tuesday. The company has a market capitalization of $18.24 billion, a P/E ratio of 44.85, a P/E/G ratio of 3.62 and a beta of 1.29. The business’s 50 day moving average is $274.48 and its two-hundred day moving average is $251.93. The company has a current ratio of 3.68, a quick ratio of 2.80 and a debt-to-equity ratio of 1.21. Insulet has a 12-month low of $160.19 and a 12-month high of $289.46.

Insulet (NASDAQ:PODD) last released its earnings results on Thursday, February 20th. The medical instruments supplier reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.15. The business had revenue of $597.50 million for the quarter, compared to the consensus estimate of $582.02 million. Insulet had a return on equity of 24.46% and a net margin of 20.19%. Analysts expect that Insulet will post 3.92 EPS for the current fiscal year.

Insider Activity

In other news, EVP Eric Benjamin sold 12,394 shares of Insulet stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $280.00, for a total value of $3,470,320.00. Following the completion of the sale, the executive vice president now directly owns 11,383 shares of the company’s stock, valued at approximately $3,187,240. The trade was a 52.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Lauren Budden sold 915 shares of Insulet stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $275.62, for a total value of $252,192.30. Following the completion of the sale, the chief accounting officer now directly owns 5,733 shares of the company’s stock, valued at $1,580,129.46. The trade was a 13.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.47% of the company’s stock.

Institutional Investors Weigh In On Insulet

Institutional investors have recently modified their holdings of the company. US Bancorp DE grew its stake in Insulet by 1.6% during the 3rd quarter. US Bancorp DE now owns 14,347 shares of the medical instruments supplier’s stock worth $3,339,000 after purchasing an additional 227 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in Insulet by 7.5% during the 3rd quarter. Janney Montgomery Scott LLC now owns 5,661 shares of the medical instruments supplier’s stock worth $1,318,000 after purchasing an additional 394 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in Insulet by 12.9% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 2,290 shares of the medical instruments supplier’s stock worth $533,000 after purchasing an additional 261 shares in the last quarter. QRG Capital Management Inc. acquired a new position in Insulet during the 3rd quarter worth $297,000. Finally, Graypoint LLC acquired a new position in Insulet during the 3rd quarter worth $206,000.

Insulet Company Profile

Insulet Corporation develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes. The company's Omnipod platform includes the Omnipod 5 Automated Insulin Delivery System (Omnipod 5) which includes a proprietary AID algorithm embedded in the Pod that integrates with a third-party continuous glucose monitor to obtain glucose values through wireless bluetooth communication; Omnipod DASH that features a bluetooth enabled Pod that is controlled by a smartphone-like Personal Diabetes Manager with a color touch screen user interface; and Omnipod GO, a standalone, wearable, insulin delivery system that provides a fixed rate of continuous rapid-acting insulin for 72 hours.